NVIDIA (NASDAQ:NVDA) Shares Down 0.9% Following Insider Selling

NVIDIA Co. (NASDAQ:NVDA)’s share price was down 0.9% on Wednesday after an insider sold shares in the company. The stock traded as low as $124.38 and last traded at $124.91. Approximately 116,797,602 shares traded hands during trading, a decline of 76% from the average daily volume of 485,932,188 shares. The stock had previously closed at $126.09.

Specifically, Director Tench Coxe sold 100,000 shares of NVIDIA stock in a transaction on Friday, June 7th. The shares were sold at an average price of $1,194.57, for a total value of $119,457,000.00. Following the sale, the director now owns 2,967,136 shares of the company’s stock, valued at approximately $3,544,451,651.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $120.84, for a total value of $14,500,800.00. Following the transaction, the chief executive officer now owns 80,574,995 shares in the company, valued at approximately $9,736,682,395.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Tench Coxe sold 100,000 shares of the firm’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $1,194.57, for a total value of $119,457,000.00. Following the completion of the transaction, the director now owns 2,967,136 shares in the company, valued at approximately $3,544,451,651.52. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,746,590 shares of company stock valued at $309,332,104. 4.23% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

NVDA has been the topic of several analyst reports. Craig Hallum lifted their price target on NVIDIA from $85.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. Barclays reduced their price objective on shares of NVIDIA from $1,200.00 to $145.00 and set an “overweight” rating on the stock in a report on Monday, June 10th. Cantor Fitzgerald boosted their price objective on shares of NVIDIA from $140.00 to $175.00 and gave the company an “overweight” rating in a report on Wednesday. Evercore ISI boosted their price objective on shares of NVIDIA from $131.00 to $145.00 and gave the company an “outperform” rating in a report on Tuesday, June 11th. Finally, DZ Bank downgraded NVIDIA from a “buy” rating to a “hold” rating and set a $102.50 target price for the company. in a research report on Friday, May 24th. Five equities research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, NVIDIA presently has a consensus rating of “Moderate Buy” and a consensus target price of $123.80.

NVIDIA Trading Down 1.9 %

The business has a 50 day simple moving average of $104.51 and a two-hundred day simple moving average of $82.41. The company has a current ratio of 3.53, a quick ratio of 3.14 and a debt-to-equity ratio of 0.17. The stock has a market cap of $3.05 trillion, a price-to-earnings ratio of 72.51, a price-to-earnings-growth ratio of 1.33 and a beta of 1.70.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, May 22nd. The computer hardware maker reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.10. NVIDIA had a return on equity of 110.60% and a net margin of 53.40%. The firm had revenue of $26.04 billion during the quarter, compared to analyst estimates of $24.59 billion. During the same quarter last year, the firm earned $0.09 EPS. NVIDIA’s quarterly revenue was up 262.1% on a year-over-year basis. As a group, equities analysts anticipate that NVIDIA Co. will post 2.52 EPS for the current year.

NVIDIA Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Tuesday, June 11th will be given a $0.10 dividend. This is a positive change from NVIDIA’s previous quarterly dividend of $0.04. The ex-dividend date of this dividend is Tuesday, June 11th. This represents a $0.40 annualized dividend and a dividend yield of 0.32%. NVIDIA’s dividend payout ratio (DPR) is presently 2.34%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Hamilton Wealth LLC boosted its position in NVIDIA by 0.3% during the 1st quarter. Hamilton Wealth LLC now owns 3,142 shares of the computer hardware maker’s stock valued at $2,839,000 after purchasing an additional 9 shares during the period. Brooklyn FI LLC boosted its position in NVIDIA by 2.5% during the 1st quarter. Brooklyn FI LLC now owns 489 shares of the computer hardware maker’s stock valued at $442,000 after purchasing an additional 12 shares during the period. Curran Financial Partners LLC boosted its position in NVIDIA by 1.8% during the 1st quarter. Curran Financial Partners LLC now owns 691 shares of the computer hardware maker’s stock valued at $625,000 after purchasing an additional 12 shares during the period. Beacon Bridge Wealth Partners LLC boosted its position in NVIDIA by 2.6% during the 1st quarter. Beacon Bridge Wealth Partners LLC now owns 473 shares of the computer hardware maker’s stock worth $428,000 after acquiring an additional 12 shares during the period. Finally, M. Kraus & Co boosted its position in NVIDIA by 2.0% during the 1st quarter. M. Kraus & Co now owns 657 shares of the computer hardware maker’s stock worth $594,000 after acquiring an additional 13 shares during the period. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Company Profile

NVIDIA Corporation provides graphics and compute and networking solutions in the United States, Taiwan, China, Hong Kong, and internationally. The Graphics segment offers GeForce GPUs for gaming and PCs, the GeForce NOW game streaming service and related infrastructure, and solutions for gaming platforms; Quadro/NVIDIA RTX GPUs for enterprise workstation graphics; virtual GPU or vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building and operating metaverse and 3D internet applications.